December 24th, 2011 
davidguide New York, NY, United States (AHN) – How low can they go?
That is the question many people are asking after the average rate on 30-year fixed mortgages hit new lows again for the week ending Dec. 22.
The average rate on 30-year fixed mortgages fell to a record 3.91 percent. It marks the third time in 2011 that rates have hit new lows.
Mortgage giant Freddie Mac reports the rate on the 30-year home loan fell from 3.94 percent from a week ago.
The average on the 15-year fixed mortgage remained unchanged at 3.21 percent, also a record low.
The low rates offer an historic opportunity for those who can afford to buy a home or refinance, but so few Americans qualify for the record low rates.
Average mortgage rates have been below 5 percent for all but two weeks of 2011. Yet, this year is on track to be one of the worst ever for home sales.
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